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Unleashing North East business potential through diversification

Created on Monday, 11th Feb 2019

Unleashing North East business potential through diversification

By Alan Whittaker, Programme Manager, Supply Chain North East

The North East business landscape has undergone dramatic change over the past few years, fuelled by factors such as the uncertainty around Brexit. Now, more than ever, businesses need to futureproof their existence and long term future. 

There are many success stories of global and national companies like Uber, Samsung, Ferguson Shipyard and more that have undergone fruitful diversification processes to sustain business capital. It’s clear more businesses need to consider branching out into new markets and there is a tangible need in the North East business sector for an engine to drive this at a local level.

Together with our partners; North East Automotive Alliance (NEAA), Generator, North East of England Process Industry Cluster (NEPIC), and the North East Local Enterprise Partnership (LEP), RTC North launched the brand-new Supply Chain North East programme to help as many SMEs as possible in our region tap into new markets, explore new opportunities, and ultimately futureproof their bread and butter should challenging times arrive. 

Supply Chain North East is a multimillion programme aimed at revolutionising the way SMEs diversify their offering and embrace new markets. The programme has received more than £3m of funding from the England European Regional Development Fund, which is part of the European Structural and Investment Funds Growth Programme 2014-2020.

The launch event in January saw more than 300 businesses come together to hear about the support available for SMEs, which is all completely free of charge. Keynote speaker Graeme Parkins, managing director of Dyer Engineering, told the inspirational story of the peaks and troughs his business has gone through, and how agile and effective diversification has led to the stable, and growing firm we see today.

We have drawn on hundreds of years of combined experience of all partners in the North East business sector to bring this brand-new solution to the market.

Securing a robust supply chain is more than just a backup plan. Businesses need a full range of trusted suppliers in order to have more flexibility and a better chance of overcoming any hurdles or mitigating risks in the long term.

Supply Chain North East provides businesses with tailored, specialist advice in areas including sales and marketing, digital transformation, accreditation and compliance. Market specialists are on hand to provide industry insight and sector knowledge on both UK and international supply chains.

To find out more and to future proof your business call the team on 0191 516 4400